By Revin Mikhael D. Ochave, Journalist
AS FERDINAND R. MARCOS, JR. is about to assume offiThis June 30, business groups hope the new president will focus on food security, creating new jobs and eliminating corruption in his country. Iffirst hundred days.
George T. Barcelon, President of the Philippine Chamber of Commerce and Industry (PCCI), said Business world via a cellphone interview that Mr. Marcos is expected to prioritize issues related to food security, public transport and education.
“(We hope he can address) health protocols for reopening schools, normalizing public transport and food safety,” he said.
Mr. Barcelon noted that supply chain issues could disrupt the food sector, so the Marcos administration should prepare for it.
Mr. Marcos is to be sworn in as 17e President of the Philippines on June 30. He takes offithis at a time when Filipinos are grappling with soaring food and fuel prices, unemployment, public transport problems and a possible increase in coronavirus infections.
Makati Business Club (MBC) executive director Francisco “Coco” Alcuaz, Jr. said in a cellphone interview that the economy will be tough to manage, but Mr. Marcos “is off to a good start” after having assembled an experienced and respected team. economic team.
“The Marcos administration can attract more job-creating investment if it makes it clear that businesses are once again welcome to do their part in increasing investment and creating jobs,” he said. declared.
“(He should) reduce corruption, eliminate the politics of tenders, franchises and contracts, move from hard to make it easier to do business and create jobs in this difIfcult environment. We would applaud such statements when he was inaugurated and would applaud if he implemented them,” he added.
MBC is also urging the incoming economics team to reverse recent amendments to Republic Act No. 6957 or the Build, Operate, and Transfer (BOT) Act Implementing Rules and Regulations (IRR) , and to reverse the Tax Incentives Review Board (FIRB) ruling on remote work for business process outsourcing (BPO) Ifrms,” says Mr. Alcuaz.
The Marcos administration should also accelerate the shift to e-receipts (e-receipts) and e-invoices, and push for the passage of a tax-paying facility law.
“These are the kinds of measures that would help businesses, big and small, local and foreign, and create the jobs we need now more than ever,” Alcuaz said.
The National Economic and Development Authority (NEDA) has approved amendments to the TRI of the BOT Act, which it says are intended to protect the government and the public from overpayments, improper guarantees, Ifscal risks and onerous contractual provisions.
In March, the MBC said the then-proposed amendments to the BOT IRR could increase transaction costs, cause delays and discourage private sector participation.
Additionally, the FIRB currently requires that all registered business enterprises, including business process outsourcing firms, operating in economic zones (ecozones) revert to 100% on-site work for their employees or risk losing incentives. tax.
Meanwhile, Sergio R. Ortiz-Luis, Jr., Confederation of Employers President of the Philippines (ECoP)tooth, said in a telephone interview that the new Marcos administration should work on creating more jobs as unemployment remains a problem.
“Our goal is to create more jobs, and we have this plan to create another million jobs for this year, and we want the new administration to support it,” Ortiz-Luis said.
The unemployment rate stood at 5.7 percent in April, accounting for 2.762 million unemployed Filipinos. It was the lowest unemployment rate since before the pandemic or the 5.3% in January 2020.
Federation of Philippine Industries (FPI) President Jesus L. Arranza said in a cellphone interview that the new administration should consult with stakeholders. Iffirst on the policies needed to stimulate investment.
“(Mr. Marcos) should have a thorough dialogue with people in the industry in the Philippines so that he is properly informed of laws that are hostile to local industries and will also discourage (entry) of investors into the Philippines,” says Mr. Arranza.